Canada’s economy has created 26,700 jobs in May, following an employment growth of 90,400 in April.
In comparison, market consensus had pointed to 22,500 growth.
Part-time employment went up by 62,000 in May and full-time employment decreased by 36,000.
Job gains in May were observed mostly within the services-providing sector, as follows:
– health care and social assistance (29,900 new jobs);
– finance, insurance, real estate, rental & leasing (28,800 new jobs);
– business, building & other support services (18,700 new jobs).
Conversely, jobs were shed mostly within the goods-producing sector, as follows:
– construction (29,600 fewer jobs);
– utilities (5,400 fewer jobs).
Meanwhile, the jobless rate in the country edged up to 6.2% in May from 6.1% in April, data by Statistics Canada showed.
The unemployed population rose by 28,000 to 1.365 million in May.
The USD/CAD currency pair settled 0.69% higher at 1.3764 on Friday. For the week, the major currency pair advanced 1.02%, as it reversed a loss from the prior week.